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TRUCKMAKERS' NEWS * WORLDWIDE
* Russia - EBRD and Daimler take 5% in KAMAZ
Moscow,Russia -Finam -12 Feb 2010: -- Cooperation between Kamaz and Daimler is expected to deepen now that Daimler has raised its holding in the truckmaker and the European Bank for Reconstruction and Development (EBRD) has taken a seat on its BoD. Closer ties between the two companies should have beneficial effects on Kamaz. The likelihood that Russian Technologies will raise its equity stake in Kamaz to 50% plus one share should not have any impact on the truckmaker’s stock valuation as the move would not entail the obligation to make a buyout offer to shareholders...
* Germany - Daimler expected to report lower 2009 sales, earnings
Frankfurt,Germany -AP/Canadian Business (CAN), by George Frey -February 15, 2010: -- German car and truck maker Daimler AG reports earnings for its fourth quarter and full year Feb 18... Max Warburton at Bernstein Research said, that with the recent appointment of Wolfgang Bernhard to head the Mercedes cars brand, "We think Daimler just became the best restructuring story in the global sector...". He's well known in the industry for his cost-saving successes at VW... Observers will also be watching to see if the euro continues to weaken against the dollar, making European exports less expensive for Americans. The U.S. is one of Daimler's biggest markets...
* USA - Autocar rolls out new yard tractor family
Hagerstown,IN,USA -Fleet Owner -Feb 12, 2010: -- Severe- service Class 8 OEM Autocar has introduced a new family of yard tractors, used to move semi trailers and intermodal containers from spot to spot at ship and rail yards, container ports, warehouses and distribution centers... The new Autocar Xspotter series is available with Cummins diesel as well as factory-built natural gas power. Autocar has partnered with Balqon Corporation to offer an integrated zero-emissions lithium ion electric power system for the Xspotter... Yard tractors, also known as yard mules, terminal tractors and trailer spotters, typically operate 24 hours a day, seven days a week, in unforgiving and demanding conditions... (Photo from autocartruck: XSpotter model)* Russia - Sollers and FIAT ink deal on JV to design and produce cars
Moscow,Russia -Itar-Tass/SteeGuru -13 Feb 2010: ... Sollers and FIAT signed an agreement to establish a joint venture to design and produce cars... The just-created joint venture is the second major player on the Russian car market... Total investments are estimated at EUR 2.4 billion... The Russian government decided to ponder over an opportunity to allocate EUR 2.1-billion credit to the Sollers-FIAT joint venture... Sollers stated that the joint venture is created on the parity basis. FIAT will contribute in the joint venture intellectual property estimated at EUR 150 million and a new platform for the Compact Wide car. Sollers will also invest EUR 150 million to production capacities of the plant in Naberezhnye Chelny as well as production lines in Zavolzhnye to produce engines and gear boxes...
* India - Ashok Leyland in Initial Pact With Paramount Group
New Delhi,India -The Wall Street Journal (USA), by NIKHIL GULAT -February 15, 2010: -- Ashok Leyland Ltd., India's second-largest truck maker by sales, Monday said it has signed an initial pact with South Africa's Paramount Group to make mine protected vehicles in India and will invest 500 million rupees ($10 million) over the next 12 months in the project... (Photo from paramountgroup.biz: The Marauder: Mine Protected Vehicle)* Germany - Truckmaker MAN makes Q4 net loss
Munich,Germany -AP/TMC NEWS -15 Feb 2010: -- German bus and truck maker MAN SE lost (EURO)472 million ($642 million) in the fourth quarter of 2009 amid a steep drop in demand due to the economic downturn, the company said Monday. MAN, said the loss compared with net income of (EURO)177 million in the fourth quarter of 2008...
* Germany - MAN puts staff on short time
Munich,Germany -Business Day (Johanesburg,South Africa), by CORNELIUS RAHN -16 Feb 2010: -- MAN, Europe’s third-biggest truck maker, said yesterday it was aiming to keep operating profit the same this year as last year as Latin American business expanded and the company cut spending on labour... Sales would be stable, helped by growth in heavy vehicle and power-plant equipment deliveries in Brazil, Lutz said... Shrinking truck markets, a write- down on the value of MAN’s stake in Swedish competitor Scania, and fines related to a bribery probe in Germany led to MAN’s first full-year net loss since at least 1989...
Labels: truckmakers' news worldwide
posted by Unknown @ 4:05 PM
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